Q3 2022 Norfolk, Massachusetts, Housing Market

 

Starting in the 1980s, Michael Intoccia performed real estate development in Massachusetts. Building over 1,000 homes at all price points, Michael focuses on purchasing lots and building homes in the Falmouth and Norfolk areas.

Homes in Norfolk have an average cost of $710,000. Although a few homes sell for less than the buyer’s asking price, buyers usually pay three percent over the asking price. Some pay seven percent above the asking price, depending on the property. Most homes remain on the market for less than 30 days, with an average between 22 and 26 days. These figures suggest that in Q3 2022, the housing market favors sellers, not buyers.

Although housing costs increased by about two percent compared to the same time in 2021, most home buyers did not look for alternatives outside the region. About 81 percent of searches derived from those moving to Norfolk, while the remaining 19 percent searched for homes outside it. The most popular originating destinations for people moving to Norfolk were New York City, Portland, Los Angeles, and Hartford, Connecticut. Among those considering homes outside Norfolk, New York City, Portland, Maine, and Hartford, Connecticut, ranked among the most popular destinations.

Benefits of Hiring Landscape Designers - Outdoor Home Improvements

 Michael Intoccia is an experienced real estate developer who is enthusiastic about golf. Leveraging his passion for golf, he invests in the redevelopment of country clubs and golf resorts, such as The Cape Club Resort in Falmouth. Throughout his three-decade career in real estate development, Michael Intoccia has constructed more than 1,000 homes.

Home improvements are not confined to building interiors, as exterior features of properties such as front and back landscapes can be revamped to bolster the aesthetic appeal of residential properties while boosting their value. Landscaping offers ample benefits. Adding plants purifies the air, reduces stress levels, reduces heat and local noise, and creates spaces where families can enjoy outdoor activities.

Enlisting the services of professional landscape designers. These professionals can help increase the value of homes by integrating various elements of professional landscape designs. Attempting to treat landscaping like a DIY project can lead to poor results and unnecessary costs.

Professional landscaping companies have the right resources and tools to materialize creative landscaping ideas with precision. In places where landscaping options are subject to the statute of the Homeowners Association (HOA), landscaping companies can help homeowners know what designs can work. Besides esthetics, professional landscaping companies can factor in available space, regional climate, and outdoor activity preferences to create visually attractive and functional designs. They also offer maintenance services like lawn care, weeding, pruning and trimming, and watering.

Two En Suite Upgrades for Newly Built Modern Homes

 A longtime resident of Sharon, Massachusetts, Michael Intoccia has established a real estate developer career for more than 30 years. Michael Intoccia counts major real estate triumphs in that span, including the construction and renovation of the Cape Club of Sharon and the Cape Club of Falmouth, among other luxury and modern home projects.

As the United States real estate market continues to witness housing shortages, existing home remodeling and new construction upgrades are becoming salient. En suite upgrades are some of the most rewarding. New homes might have two modern upgrades for bathrooms: radiant floor heating and towel warmers.

Radiant floor heating is an in-floor heating system that makes the bathroom warm and comfortable. It is energy-efficient and also considered a luxury upgrade for modern en suites. The ideal time to add this upgrade is during new home construction. Installing the upgrade in an existing home is possible. However, it requires tearing up the existing floor.

Towel warmers heat wet towels or bathrobes to make them ready for use. These upgrades are suitable for homes with quality electrical installation. Modern towel warmers come in many styles and materials to add luxury looks, such as gold and matte black or oil-rubbed bronze.

How Residential Real Estate Developers Predict and Apply Trends

 Michael Intoccia is a Sharon, Massachusetts-based real estate developer with more than 35 years of experience. The Cape Club of Sharon and the Cape Club of Falmouth are two of Michael Intoccia’s major real estate development projects.

Many undeveloped lands in the United States have transitioned into commercial and residential properties thanks to the work of real estate developers. Residential real estate developers acquire real assets, improve them, and sell them to clients (often homebuilders). Commercial real estate developers help erect commercial buildings on land or improve outdated properties to revitalize regional commercial business activities.

Every residential real estate developer invests in a region when they buy a parcel of land or improve real estate property in that region. Since the generic goal of developers is to generate a return on their investments, they often seek a head start in their strategies by researching locations and predicting trends. The prime goal is to invest in locations or markets with minimal risk of crashing in the future. To that aim, real estate developers look for trends like the migration rate of Millenials to a region or the rate at which new couples buy homes in an area.

Real estate developers may incorporate ongoing consumer trends into their property development strategies. For example, many consumers are looking to buy homes powered by clean energy sources to minimize air pollution, like greenhouses. In response to this trend, some developers have invested in solar panels.